Howdy Back 68Stang:
On the vacuum advance, take a close look at the arm between the vacuum canister and where it enters the distributor body. If you can see it, watch it closely as you slowly and quickly increase engine rpm. IF it moves you are getting some vacuum advance. Next time you replace the points, closely inspect the movement of the vacuum advance plate, pivot posts and springs. Clean and lube as needed. Does you vacuum canister have a hose nipple both inside and outside of the canister? If it does, you have a vacuum advance/retard canister.
On your carb a C90F could be a 1969 Autolite. If you are real lucky it could be an elusive Autolite 1101 used only one year, 1969 on the '69 Mustang with a 250 engine. They are rated at 210 cfm and have a ported vacuum tap for the distributor advance. A photo will not help much in IDing because they appear externally identical to the '68 1100. The only concrete evidence is measuring the throttle bore which would require removal. An 1100 tb measures 1 7/16". The 1101 tb measures 1 11/16". The 1101 makes for a nice performance upgrade for a '68 200.
I wasn't clear, I wanted to know your locale to address elevation in making a suggestion about initial advance setting. Higher elevation can safely tolerate more initial advance. How is 10 degrees working for you?
You mentioned smelling gas. Since gas evaporates very quickly on a hot engine you may have to take a close look at the carb after a drive and immediately after shut off. Look closely at the top gasket, fuel line into carb and down inside the throat. Do you know how long it has been since the carb has been rebuilt?
Good luck and keep it coming. Have you found a Service Manual yet?
Adios, David